Supras Indo-China coal RV is getting fixed around 13k delivery Singapore: Fearnleys

4 june 2018

Capesize

The Cape market has been on a downward trend for the past week.

According to Fearnleys, Oslo based broker, Brazil market has been very quiet, and so has the South African market. Freight rates have dropped down to mid $15 pmt level for Brazil/China, and front haul tct rates are now in the $21-22k level.

Fearnleys’s weekly report further says, West Australia market has also had lower fixing volumes than normal, which have pushed the market down close to mid USD 6 pmt level on West Aussie/China route. The pacific round-voyage on tct is then just above the $10k mark.

However, the general feeling is that the market is about to bottom out as we see more Brazil activity and increased activity from the West Australian shippers Fearnleys said.

Panamax

Commenting on Panamax, Fearnleys says, a new week with the same old story, decreasing freight rates all over. Thin volumes in both hemispheres, and with owners discounting rates day by day the market is soft for the moment in line with the last month’s trend.

Time of writing, Fearnleys says, TA rates has dropped to low $7k’s, while FH’s is in the range of low $15k’s, and charters appeared to be sitting tight and slow to fix FH biz. With holiday in Singapore on Tuesday, the week started very slow, and a transpacific RV is now priced at mid/low $10k’s.

To lift the freight market, we need significant fresh cargoes coming into the market, and the sooner the better if you are a ship owner said Fearnleys.

Supramax

A slow beginning to the week with Singapore off for holidays. According to Fearnleys research team, some rates were softening, but certain routes remained stable. Indo/China coal RV is getting fixed around $13k delivery Singapore, and CIS coal RV’s around similar levels. South Africa to WCI/Pakistan range is paying owners around $12k+200k bb.

Source: FEARNLEYS